A cutting tool of the kind to which the present invention refers comprises a tool holder having an insert receiving slot and a cutting insert, e.g. of a ball-ended type, replaceably mounted therein. In view of the substantially circular shape of the cutting edge of such an insert in the tool the cutting force components acting on the cutting edge are of relatively great value and the tool has to be designed so as to ensure that position of the insert in the tool holder is effectively and accurately fixed and that the cutting insert itself is of sufficient strength.
Tools of such a kind are disclosed, for example, in E.P. 216064 and U.S. Pat. No. 4,566,828. Thus, a metal cutting tool disclosed in U.S. Pat. No. 4,566,828 consists of a tool holder having a pair of clamping jaws defining therebetween an insert receiving slot and a replaceable disk-like cutting insert mounted in the slot. The insert is secured in the holder by means of a clamping screw penetrating through screw bores formed respectively in the jaws and in a body of the insert. In order to replace the cutting insert the clamping screw has to be completely screwed out of the cutting tool, rendering such replacement operation time consuming. Furthermore, where the cutting insert is relatively small, as is the cutting tool, such manner of clamping has disadvantages connected with the necessity of forming in such small cutting insert a screw receiving bore, which, on the one hand, limits manufacturing possibilities for such inserts and, on the other hand weakens the insert.
It is the object of the present invention to provide an improved cutting tool, wherein a cutting insert is mounted in a tool holder in a new, effective manner enabling an easy and quick replacement of the insert in the tool, and an insert particularly suitable for such a tool especially for profile machining of shaped surfaces.